Matthews Adds Andrew Marcus as First NYC Capital Markets Hire
By Andrew Coen June 3, 2024 3:46 pm
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Matthews Real Estate Investment Services has hired Andrew Marcus from Dansker Capital Group as the brokerage’s first capital markets hire for its year-old New York City office, Commercial Observer has learned.
Marcus arrives at Nashville-based Matthews after four and a half years at Dansker, where he was a founding member of the firm formed in Manhattan in January 2020. Previously, he spent two and a half years as an associate director at Marcus & Millichap (MMI). He has arranged $300 million in lending volume throughout his brokerage career that dates back to 2015.
“There is so much momentum with Matthews and it feels like a rocket ship of a company,” Marcus told CO. “It’s incredibly impressive what they’ve built, who they brought in and the technology and the resources they’re putting behind their agents. And, to me, it felt like an opportunity I couldn’t say no to, being the first person to join in the Northeast for capital markets.”
The hire of Marcus marks the latest in Matthews’ expansion into New York City since debuting its Manhattan office at 575 Fifth Avenue in May 2023 by adding a number of investment sales brokers from B6 Real Estate Advisors. The scaling of Matthews’ Big Apple office is led by B6 veterans DJ Johnston, Brock Emmetsberger and Cory Rosenthal, who want to grow Matthews into a full-service firm handling debt and leasing transactions in addition to investment sales.
Marcus will have the role of first vice president and will work under Rosenthal, New York market leader and national director of multifamily for Matthews. Rosenthal said he is aggressively recruiting more capital market specialists to add to the New York office.
“People don’t have to sell their buildings quite often but they do have to do refinances or other acquisitions, and that is a space we actively wanted to be in, and we also believe it’s an incredibly accretive line of business to our investment sales business,” Rosenthal said. “The kind of person that we hire at Matthews is unique as they are an aggressive yet charismatic individual who recognizes that they have to devote a lot of their life to this business, and Andrew encompasses all those traits and has an extensive history in the business.”
While his career started off facilitating multifamily transactions around New York City, Marcus has expanded to arranging financings across all property types and on a national scale. Marcus said he will target loans across the country with his past lender relationships while also collaborating with the Matthews’ investment sales teams for leads on New York deals.
Despite challenging lending conditions due to elevated interest rates, Marcus said he sees potential to complete financings as developers seek discount buying opportunities. He began at Matthews last week.
“I’m already trying to collaborate with some of my new teammates here looking at some deals in New York City and also some deals in other parts of the country with people from other offices, so I would like to be off to the races as best I can,” Marcus said. “I’m looking to grow the team and grow the capital markets presence for Matthews both here and afar.”
Andrew Coen can be reached at acoen@commercialobserver.com
